Vietnam: The seafood industry also proposes to remove the import tax on soybean meal

Published 2023년 3월 17일

Tridge summary

The Vietnam Association of Seafood Exporters and Producers (VASEP) has recommended a reduction in the import tax on soybean meal from 2% to 0% to support Vietnam's aquaculture industry. This proposal is aimed at mitigating the impact of increased production costs of aqua feeds and aquatic products, attributed to the Covid-19 epidemic, supply chain disruptions, inflation, and rising prices of input materials. The proposal aligns with the requests of the Vietnam Animal Feed Association and large feed industry enterprises for similar tax reductions to support the animal feed and livestock industry.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

On March 15, 2023, the Vietnam Association of Seafood Exporters and Producers (VASEP) sent Official Letter No. 24/CV-VASEP to the Ministry of Finance and the Ministry of Agriculture and Rural Development, proposing to reduce import tax on soybean meal from Vietnam. 2% to 0% to support Vietnam's aquaculture industry According to VASEP, Vietnam's aquaculture industry has affirmed its position and importance over the past 20 years when not only making a great contribution to the export turnover of the agricultural industry, but also creating millions of jobs worldwide. seafood chain, making an important contribution to the economic development of the country and stabilizing social security in many provinces and cities. Of the 11 billion USD in seafood export turnover in 2022, up to 62% is contributed from aquaculture. However, in recent years, more and more impacts have caused the industry to be greatly affected. From the impact of the Covid-19 epidemic, the Russia-Ukraine conflict ...

Source: Agriculture